The annual median cost of long-term care services increased by an average of 4.5 percent from 2016 to 2017, according to Genworth Financial’s 2017 Cost of Care Survey. That rate outpaces inflation.

Long-term care offers help with everyday tasks such as eating, bathing and dressing. Among people ages 65 and older, 70 percent eventually are expected to need some type of long-term care, according to Genworth, an insurance company. Standard health insurance policies do not cover the cost of long-term care.

Genworth found that the specific long-term care services that increased most in cost over the past year are:

Paying for long-term care

Medicaid generally covers the costs of long-term care in nursing homes and at home, according to the federal government website LongTermCare.gov. But not everyone is eligible for Medicaid. It’s a joint federal and state health insurance program for folks with low income or with disabilities.

Medicare, the federally subsidized health insurance program for seniors, generally does not cover long-term care. Under certain circumstances following a hospitalization, Medicare will help pay for a skilled nursing facility, hospice care or home health care — but only for up to 100 days.

How do you feel about the rising cost of long-term care? Sound off below or on our Facebook page.

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